Applied Materials Raises Dividend by 23%, Adds $10 Billion to Buyback Plan
March 13 2023 - 7:10AM
Dow Jones News
By Colin Kellaher
Applied Materials Inc. on Monday said its board raised the
quarterly dividend by 23% to 32 cents from 26 cents, and approved
an additional $10 billion in stock buybacks.
The new quarterly payout, equal to $1.28 a year, represents an
annual yield of 1.12% based on Friday's closing price of $114.39,
up from 0.91%.
The Santa Clara, Calif., maker of semiconductor equipment said
the increased dividend is payable June 15 to shareholders of record
as of May 25.
Applied Materials, which has about 845.1 million shares
outstanding and sports a market capitalization of roughly $96.7
billion, said the new buyback supplements a prior authorization
that had about $4.7 billion remaining.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 13, 2023 07:55 ET (11:55 GMT)
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